Noble Group’s life hangs in the balance. In a final attempt to preserve whatever value is left for creditors and shareholders it is seeking approval from a Bermuda court to restructure.
The commodities trader, under investigation by the Singapore authorities, warned that it would go into full liquidation if the restructuring fails. Even if the $3.5 billion restructuring proceeds, shareholders will suffer, market watchers say.
On December 12, the Singapore-listed firm said that the Securities Industry Council SIC, a council under the Monetary Authority of Singapore MAS which administers takeovers and mergers, had granted another extension till December 31 for a whitewash waiver....
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